B
Please calculate the base selling price and show the steps
A steak dinner has a standard food cost of \$4.50. If a 34 percent food cost is desired, what would be the base selling price using the ingredients mark-up method?
Answer
Final Answer: The base selling price using the ingredients mark-up method would be \(\boxed{13.24}\).
Step 1 ：The standard food cost of a steak dinner is \$4.50.
Step 2 ：The desired food cost percentage is 34 percent or 0.34 in decimal form.
Step 3 ：The base selling price can be calculated by dividing the standard food cost by the desired food cost percentage.
Step 4 ：Using the formula, the base selling price is calculated as \(\frac{4.5}{0.34} = 13.235294117647058\).
Step 5 ：Rounding to the nearest cent, the base selling price is approximately \$13.24.
Step 6 ：Final Answer: The base selling price using the ingredients mark-up method would be \(\boxed{13.24}\).
